Dana Incorporated · NYSE:DAN
Dana — 2011 New York Auto Summit
19 slides from Dana's conference presentation, Apr 20, 2011
Slide 1: Dana Holding Corporation 2011 New York Auto Summit
Dana Holding Corporation 2011 New York Auto Summit John Devine Executive Chairman Roger Wood Chief Executive Officer & President James Yost Executive Vice President & CFO April 20, 2011
Slide 2: Safe Harbor Statement
Safe Harbor Statement Certain statements and projections contained in this presentation are, by their nature, forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current expectations, estimates and projections
Slide 3: Dana is a Leading Supplier to Light Vehicle, Commercial Vehicle and Off-Highway OEMs
Dana is a Leading Supplier to Light Vehicle, Commercial Vehicle and Off-Highway OEMs Founded in 1904 Based in Maumee, Ohio 2010 sales: $6.1 billion Global customers and operations in 26 countries North America (about 48%) Europe (about 26%) South America (about 14%) Asia Pacific (about 12%) 92 major
Slide 4: Dana's Turnaround since 2008
Dana's Turnaround since 2008... Returned Dana to Strong Competitive Position Management and Organization Built strong business and operational team Divested Structures business Increased Engineering resources and established regional engineering centers Combined 7 independent business lines into 2 b
Slide 5: Business Highlights
Business Highlights Continuing positive momentum with strong financial results Expanding presence in growing markets Agreement to increase ownership of DDAC JV to 50% Establishing Engineering Technical Centers in India and China Strategic agreement with SIFCO S.A. Continuing to conquest new business
Slide 6: Expanding Presence in Growing Markets
Expanding Presence in Growing Markets China Agreement to increase ownership of DDAC JV to 50% Sole supplier of medium and heavy truck axles to Dongfeng, the 2nd largest Commercial Truck Manufacturer in China Commercial Truck market in China is larger than all global commercial truck markets combined
Slide 7: Aftermarket Strategy - Recapture installed base and grow in new markets
Aftermarket Strategy - Recapture installed base and grow in new markets New Products, Markets & Partners "All-makes" driveline and axle products in Light Duty and Commercial Vehicle Launching "Tier II" offering for price sensitive segment Specialty markets globally - motorsports and military Growing
Slide 8: Our Focus... Margins and Growth
Our Focus... Margins and Growth Continue tenacity on operational improvements Reduce complexity in the product and supply chain Improved manufacturing footprint Grow the business Reinvigorate product portfolios Pursue attractive business opportunities and acquisitions globally Expect 50% growth over
Slide 9: Financial Update
Financial Update
Slide 10: Financial Summary
Financial Summary ($ in Millions) Sales $ 6,109 $ 881 Adjusted EBITDA 553 227 Income before Interest Expense and Income Taxes 124 441 Net Income (attributable to Dana) 10 441 Capital Spend 120 (21 ) Free Cash Flow 242 133 Full Year 2010 vs. 2009 Revenue up 17% vs. 2009 See appendix for comments rega
Slide 11: Strong Global Liquidity & Net Cash
Strong Global Liquidity & Net Cash ($ in Millions) Net Cash ($ in Millions) Net Cash ($ in Millions) Net Cash ($ in Millions) Net Cash ($ in Millions) * Adjusted to reflect impact of January 2011 repayment of term loan and issuance of new unsecured notes 2011 First Half Uses of Cash SIFCO strategic
Slide 12: First Quarter 2011 Projected Financial Results
Sales ~ $ 1.8 Bil Adjusted EBITDA ~ $ 180 Mil Adjusted EBITDA as % of Sales ~ 10 % Income before Interest Expense and Income Taxes ~ $ 20 Mil ** Capital Spending ~ $ 35 Mil Free Cash Flow ~ $ (40 ) Mil First Quarter 2011 Projected Financial Results Estimated Results * See appendix for comments regar
Slide 13: 2011 Financial Targets
2011 Financial Targets Sales Up 10%+ (vs. 2010) 17%+ (vs. 2010) Adjusted EBITDA $675 - 700 Mil $740 - 760 Mil Adjusted EBITDA as % of Sales 10%+ Diluted Adjusted EPS * $1.30 - $1.40 $1.50 - $1.60 Capital Spending $200 - 250 Mil Free Cash Flow >$100 Mil >$150 Mil Plan G G Status * Assumes 23% effecti
Slide 14: Dana Growth - Significant Opportunities
(CHART) Dana Growth - Significant Opportunities (Excludes Market, Pricing & Structures) Total revenue growth (including ~5% projected market growth) about 10% CAGR New Initiatives (including SIFCO agreement and share of DDAC) Awarded Net New Business Aftermarket Growth 2011 New Business
Slide 15: Restructuring Actions Continuing to Drive Higher Margins
Restructuring Actions Continuing to Drive Higher Margins Full Year Adjusted EBITDA as a Percent of Sales See appendix for comments regarding the presentation of non-GAAP measures Revenue ($ Mil) $8,095 $5,228 $6,109 10%+ ~12% On track to achieve 12% Adjusted EBITDA Margin by 2013 9% Projected (CHART
Slide 16: Summary
Summary Returned Dana to strong competitive position Significant actions in place to grow in all business segments Our 2011 Plan continues to build on the strong foundation and focuses on Growth Continue tenacity on operational improvements Increased focus on growth Continue to improve margins and m
Slide 17: Q&A Session
Q&A Session
Slide 18: DAN
DAN NYSE.
Slide 19: Appendix Non-GAAP Financial Information
Appendix Non-GAAP Financial Information The preceding slides refer to Adjusted EBITDA, which we've defined to be earnings before interest, taxes, depreciation, amortization, non-cash equity grant expense, restructuring expense and other nonrecurring items (gain/loss on debt extinguishment or divesti